Barclays PLC set a $75.00 price objective on Owens Corning Inc (NYSE:OC) in a research note issued to investors on Thursday morning. The brokerage currently has a hold rating on the construction company’s stock.
A number of other research firms also recently commented on OC. SunTrust Banks, Inc. reiterated a hold rating on shares of Owens Corning in a report on Tuesday, September 12th. BidaskClub upgraded shares of Owens Corning from a sell rating to a hold rating in a report on Friday, August 25th. Jefferies Group LLC reiterated a buy rating and issued a $72.00 target price on shares of Owens Corning in a report on Sunday, July 9th. Stifel Nicolaus reaffirmed a buy rating and set a $83.00 price objective on shares of Owens Corning in a research report on Friday, September 1st. Finally, Royal Bank Of Canada boosted their price objective on shares of Owens Corning from $79.00 to $90.00 and gave the company an outperform rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $76.74.
Shares of Owens Corning (OC) traded up 0.25% during midday trading on Thursday, hitting $79.41. 1,263,135 shares of the stock were exchanged. Owens Corning has a 12-month low of $46.45 and a 12-month high of $81.06. The firm has a 50-day moving average price of $77.70 and a 200-day moving average price of $68.42. The company has a market cap of $8.83 billion, a PE ratio of 22.81 and a beta of 1.05.
Owens Corning (NYSE:OC) last released its earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities analysts predict that Owens Corning will post $4.33 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Barclays PLC Analysts Give Owens Corning Inc (OC) a $75.00 Price Target” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://www.com-unik.info/2017/10/29/barclays-plc-analysts-give-owens-corning-inc-oc-a-75-00-price-target.html.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 2nd. Shareholders of record on Monday, October 16th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 13th. Owens Corning’s dividend payout ratio is currently 23.88%.
In other Owens Corning news, CFO Michael C. Mcmurray sold 14,000 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the sale, the chief financial officer now owns 40,903 shares of the company’s stock, valued at approximately $3,129,897.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Kelly Schmidt sold 1,462 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $70.35, for a total transaction of $102,851.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,866 shares of company stock worth $15,644,970. Insiders own 1.80% of the company’s stock.
Large investors have recently modified their holdings of the business. Geneva Advisors LLC boosted its stake in shares of Owens Corning by 6.2% in the 2nd quarter. Geneva Advisors LLC now owns 10,380 shares of the construction company’s stock valued at $695,000 after purchasing an additional 603 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in shares of Owens Corning by 317.3% in the 2nd quarter. Marshall Wace North America L.P. now owns 92,940 shares of the construction company’s stock valued at $6,227,000 after purchasing an additional 70,667 shares during the last quarter. Aviva PLC boosted its stake in shares of Owens Corning by 14.3% in the 2nd quarter. Aviva PLC now owns 39,967 shares of the construction company’s stock valued at $2,674,000 after purchasing an additional 5,000 shares during the last quarter. Northpointe Capital LLC boosted its stake in shares of Owens Corning by 4.6% in the 2nd quarter. Northpointe Capital LLC now owns 40,348 shares of the construction company’s stock valued at $2,700,000 after purchasing an additional 1,778 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Owens Corning by 35.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 91,953 shares of the construction company’s stock valued at $6,153,000 after purchasing an additional 24,014 shares during the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
What are top analysts saying about Owens Corning Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Owens Corning Inc and related companies.